Question About Estate Trustee...
-The one daughter is trustee for the trust created by her deceased mother.
-The house is due to auction 01/04/05 for 23K owed to siding contractor (only lien on the property).
-The house's CAD value is 120K.
- All the brothers and sisters agree to the deal.
We have executed a Quit-claim Deed with the Trustee/Daughter with a promise of $6k when the title goes through (next week I hope).
Will we be able to get the registrar's office to assign title to us? Or do we need more paperwork on the Grantor side?
Is this what they call a "Home-Run"? 30K for a minimum 120K house.
I'm a little confused on this subject!
You stated this property id due to auction on said date. It this a forced sale due to the lien?
The registrar's office does not assign title; they record documents that are presented in a proper legal format. You stated you have a quit claim deed! Has this been recorded? If so you have taken control of the subject property!
Are you taking care of the lien?
You stated 30k for a 120k property. Is the 30k your total cost? If so yes it is a home run and I'm moving in with you folks to live off your profits! LOL.
[addsig]